Product Development Plan Template

What is a Product Development Plan?

A product development plan outlines the objectives and projects for developing a product. The plan will typically include the focus areas, objectives, actions, and KPIs (key performance indicators) necessary to achieve the desired outcome of the product development process. It is essential for any product team, as it provides a clear roadmap for the product's successful development.

What's included in this Product Development Plan template?

3 focus areas
6 objectives
6 projects
6 KPIs

Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.

Who is the Product Development Plan template for?

This product development plan template is ideal for product teams of all sizes and industries who want to create a plan to develop their products. It provides a clear structure for a product team to define the objectives and strategies necessary for product development success.

1. Define clear examples of your focus areas

Your focus areas are the areas of your product that you want to focus on for improvement. Examples of focus areas could include product development, product launch, customer engagement, and overall product strategy. Each focus area should have its own objectives and strategies that are tailored to achieving its goals.

2. Think about the objectives that could fall under that focus area

Objectives are the goals that you want to achieve through your product development plan. Each focus area should have its own objectives that are tailored to that focus area. Examples of some objectives for the focus area of Product Development could be: Increase Product Quality , and Increase Product Design Efficiency .

3. Set measurable targets (KPIs) to tackle the objective

KPIs are measurable targets that you set to track your progress towards your objectives. Each objective should have a KPI that is tailored to that objective. An example of a KPI for the focus area of Product Development could be: Decrease defect rate from 0.5% to 0.2%.

4. Implement related projects to achieve the KPIs

Projects (actions) are the activities that you will complete to achieve the KPIs. Each KPI should have a related project that is tailored to achieving that KPI. For example, if the KPI is to decrease defect rate from a specific initial value to a target value, the related project could be to increase quality assurance testing.

5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy

Cascade Strategy Execution Platform helps you to easily create, manage and monitor your product development plan. Cascade enables you to quickly and easily create and manage your product development plan, set objectives, set KPIs, implement projects, and track your progress against your objectives.